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The gold price is testing $1,800 which helps with the operating profit for gold miners like Altyn.
They will soon have the production figures for the quarter to 30-06-2020, so maybe a RNS soon.
If longer term expectations for gold price have gone above $1650 let alone $1800, then producers are throwing off some serious cash and it’s hard to see a mine with 3.5million in reserves at very good grades and the ability to produce 100k Oz per year with manageable capex, won’t become a serious acquisition target.
Next production update - I guess released in mid August - could be a real catalyst - if they can mine and process 150k tonnes and improve grades, then annual production run rate could be getting towards 30k Oz, which starts to be hefty cash flow.
Sadly ALTN track record is to be almost into Sept before putting out a Q2 update. However they managed to get Q1 out by 11th May this year so maybe the Bod have realised that communication is worthwhile and they'll try to do something in first week of Aug.
It really wouldn't be far fetched for them to announce H1 gold sold was 10k oz but that H2 is expected to be 15k oz and that 35-40k oz is guidance for 2021. That would make a return to 3p very reasonable
R T B , Sorry to remind you but you said this was on deaths door now 3 p is on the table ? . Do you follow charts my message was about 3rd wave and what about spot golds wave . please respond ? Surely you can see this and looking at charts looks very good . G L A .
RTB. In terms of the Q1 update being issued 11thMay. , it seems to me they wanted to issue the Annual Report first ( which numbers wise was again a big disappointment). And since that point they have issued regular RNS's which have all been pretty positive. . A new leaf in terms of communication maybe ? . Therefore there's every chamce of a Q2 update in mid Ju!y IMO
I'm not sure if a Q2 update is coming. Don't they just report the Q2 results in the interim results in Spetember?
"I'm not sure if a Q2 update is coming. Don't they just report the Q2 results in the interim results in Spetember?"
I'm hoping now there is actually substantial progress happening for the first time in years, that they might be a bit sharper with the updates, especially as gold is now the hot sector.
As like most companies, when the news is good there are lots of RNS's but when in difficult times they keep information to the legal minimum. Regular updates would mean Altyn are happy with the progress and want to tell the market. It's like having a good looking new girlfriend/boyfriend, you want to show them off (even better when you've got one of each!!)
Well, eagle, going by the few events I've been to where people were very keen to show off their partners - they all had a couple extra stone and were a few decades older than you'd like.
Mr_B, love is blind. So is investing sometimes!!
Well after treading water around $1800 for the past week, gold again looks to be breaking up. A decent Q2 update should push this another substantial leg up
Gold now $1824.
Yesterday's RNS was a comfort to those invested in Altyn, that the Kaz Government is functioning (despite Covid) in promptly renewing the mining licence and approving the mine development plan.
Gold and Gold Miners are some of the few solid and growing investment sectors in these difficult times.
Somebody sold two shares wonder what they are going to spend the money on ! ha ha ha
"Somebody sold two shares wonder what they are going to spend the money on ! ha ha ha"
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They now have 2 pennies to run together!!
Gold price now $1882 oz
I expect investors are waiting to see the next production figures. There may be an expectation that they are going to be very good - given some of the ambitious targets announced by the company recently - but realistically the next set of figures aren't going to set the world on fire. A steady increase without any major setbacks is probably the best that can be hoped for. Winter is coming & it will be interesting to see if they can get through it unscathed & still on target, but we won't find that out until next year.
Overall next the next year or two is when ALtn have to really deliver on their promises. Hopefully ALtn have managed to kick the habit of stumbling from one setback to another via the odd disaster.
"Winter is coming"?!?
You are either the life and soul of the party (not) to be saying that in July or you have been watching too much Game of Thrones!
Looking forward (well, back) to Q2 production numbers (assuming they provide them), their RNS on 9th June stated:
"an annualised monthly run rate of ~600kt/year being achieved in April and May" and
"Gold recovery grades are also improving" and
"reduced grade dilution"
So, assuming that the run rate continued into June, that recovery is roughly 83% and, hopefully, grade returns to 2g/t, this would equate to 8k oz gold production in Q2. If grade remained at 1.5g/t (as in Q1) then production would be 6k oz. In either case it should be a significant improvement on Q1, although I would be disappointed with anything less than 6k oz.
This does, of course, assume that the information provided is accurate.
Daisan, winters in Kazakhstan can be long & hard - not even global warming is going to change that for a while yet - to pretend otherwise is fooling nobody. Summers are easy mining and they have to maximise production. Winter is when things are harder. They have to 'winterize' their production facilities & equipment...it's a serious business.
Do love GoT though and cannot miss an opportunity to use 'Winter is coming'....I don't think they have dragons in Kaz...Eagles yes!
Mining in warm African countries is for wimps!!
bald_eagle,
Yes, I am aware how hard the winters are there but I am still in early summer mode! Especially as children have just broken up (admittedly, you wouldn't notice a lot of difference this year).
They have made effort to ensure that they can operate to some extent during the winter so we should see improvements across the year, although Q1 is always likely to be the weakest production quarter.
Hi , If they don t release positive production then they are dead nobody will invest here as gone on to long . simply as that now is time if its not then it will go bust ? bit like flogging a dead horse !
G.L.A . may the force be with us !
They don't need small shareholders to invest, they have received a bank loan and issued a bond and the family say that they would if need be provide additional funding. The golden goose is not going to lack nourishment any time soon.
Countrywide quarantine restrictions may delay the delivery of some of the new equipment, but Kazakhstan seems to be permitting the resource extraction industries to continue.
The management now appear to be making good progress .
They do need small investors to invest here to create the necessary demand for shares in order to move the price up. Its all about retail and HNWI here. That means positive news flow. So a Q2 report would be very much appreciated please.
Interim report in about 5 weeks....early September usually.